AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Acquires 23,072 Shares of Company Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 23,072 shares of the stock in a transaction dated Tuesday, September 22nd. The shares were acquired at an average price of $3.49 per share, for a total transaction of $80,521.28. Following the completion of the purchase, the director directly owned 6,985,518 shares in the company, valued at approximately $24,379,457.82. This trade represents a 0.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

AFC Gamma Price Performance

AFCG opened at $3.48 on Friday. AFC Gamma Inc. has a fifty-two week low of $2.06 and a fifty-two week high of $4.20. The firm has a 50-day moving average of $3.18 and a 200 day moving average of $3.09. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market cap of $78.89 million, a P/E ratio of 18.32 and a beta of 0.95.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. The business had revenue of $6.77 million for the quarter, compared to analyst estimates of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. On average, research analysts expect that AFC Gamma Inc. will post 0.72 EPS for the current year.

AFC Gamma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, September 30th. AFC Gamma’s payout ratio is 105.26%.

Analysts Set New Price Targets

A number of analysts have issued reports on AFCG shares. Wall Street Zen downgraded AFC Gamma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

AFC Gamma Company Profile

AFC Gamma, Inc (NASDAQ: AFCG) is a commercial real estate finance company that provided institutional capital to businesses operating in state-regulated cannabis markets. The company primarily focused on lending to licensed cannabis operators and related businesses, an area historically underserved by traditional banks because cannabis remains illegal under U.S. federal law.

Its financing activities included secured loans backed by commercial real estate and other borrower assets. AFC Gamma offered capital for purposes such as facility acquisition, construction, expansion, refinancing and working capital.